Interview: How Pennie Kincade Passed Three Securities Licensing Exams

Do you need to pass the SIE, Series 7, Series 66, or another FINRA or NASAA exam? Hear one student’s experience preparing for and taking her securities exams. Continue reading

There are many career options to choose from in the financial services industry, such as stockbroker, investment banker, financial analyst, or financial advisor. Whether you’re aiming for a job on Wall Street or off, you will probably need to pass a securities licensing exam or two (or three) to be permitted to work in your chosen role. To reach her career goals, Solomon customer Pennie Kincade, Financial Advisor at Raymond James Financial Services, decided to take the FINRA Securities Industry Essentials (SIE) and Series 7, and the NASAA Series 66 exams. Pennie recently shared her experience studying for and passing her exams.

“From passing the exams, I have been able to further my career and truly enjoy coming to work every day. It’s been a privilege to partner with my clients and plan for their retirement.”

Pennie Kincade

Solomon Exam Prep: What led you to take the SIE, Series 7, and Series 66?

Pennie Kincade: When I started working in the financial services industry, I found my passion helping individuals and businesses reach their financial goals. I wanted to take this a step further by helping with their long-term goals, wealth management strategies, business succession planning, and retirement planning. With the SIE, Series 7 and 66, now I can follow my dream of assisting clients with wealth management strategies.

Solomon Exam Prep: Out of the exams you passed, which one did you find the most challenging and why?

Pennie Kincade: The Series 7 was the most challenging and the longest exam. It was helpful to have Solomon Exam Prep available to answer my questions and breakdown concepts into simple terms. They gave me confidence to push through and not give up.

Solomon Exam Prep: How did you approach studying for your exams?

Pennie Kincade: When studying for each exam, it was important to read each chapter and take a chapter exam at the end. Regardless of my scores, I continued reading through, taking an exam and then I started taking half exams once or twice a week. The questions I missed, I wrote down and referred back to for review. I reread my notes and reviewed each chapter on sections I scored low in. Once my scores were in the 80s, I moved onto a full exam once a week. Making note cards and writing out the questions I missed were helpful to review later. Two weeks before the exam, I made a sheet with notes to review each day with definitions, formulas or calculations.

Solomon Exam Prep: How did you take the exams – at a testing center or remotely? How was your experience, and do you have any tips to share?  

Pennie Kincade: I completed my exams at the testing center. Before each exam, I would arrive an hour and a half early. During this time, I would have a small snack and drink some water. Then I reviewed my note cards and one page cram sheet. When I was able to write down notes during the exam, I wrote down everything I could remember from my cram sheet since it was fresh in my mind. I found this helpful to refer back to when I was getting a little anxious. It helped me stay focused and maintain confidence.

“It was helpful to have Solomon Exam Prep available to answer my questions and breakdown concepts into simple terms. They gave me confidence to push through and not give up.”

Solomon Exam Prep: Any words of wisdom to help motivate others who are preparing for exams? 

Pennie Kincade: Give yourself enough time to study and know when you need a break. I read my notes out loud, while recording my voice and listened to them on the way to work. The chapters I had a difficult time remembering I would read the section before bed and touch on it the next morning. If I felt I had information overload, I would get up for a snack and take a 15-minute break.  

Solomon Exam Prep: How has passing these exams affected your work and your career?

Pennie Kincade: From passing the exams, I have been able to further my career and truly enjoy coming to work every day. It’s been a privilege to partner with my clients and plan for their retirement.

Visit the Solomon Exam Prep website to explore study materials for 21 different securities licensing exams, including the SIE, Series 7, and Series 66.

Interview: How Alec Orudjev Passed Four Securities Licensing Exams

What does it take to pass securities licensing exams like the SIE, Series 24, Series 63, and Series 79? Read about one student’s approach to success. Continue reading

No one said career changes are easy, and when they involve taking several difficult securities licensing exams, the challenge is real. Having an effective study system is an important part of passing securities licensing exams, and hearing about others’ strategies can help you develop a system that works for you. Solomon Exam Prep recently interviewed Alec Orudjev, General Counsel at FT Global Capital, about passing the SIE, Series 24, Series 63, and Series 79 exams (in three months!). Alec shares valuable insights into his study process and how he utilizes Solomon materials to achieve success.

“… the Solomon study materials are the best and the most comprehensive (notes, resources, simulated exam questions, etc.) in their class, in my view.

Photo of Alec Orudjev

Alec Orudjev

Solomon Exam Prep: What motivated you to pursue multiple securities licenses?

Alec Orudjev: After about two decades of being an attorney in private practice, I decided to change my career path and accepted an in-house legal counsel position earlier in the year. As a condition of such change, I needed to secure certain FINRA licenses.

Solomon Exam Prep: Why did you take your exams in the order that you did? Was this order helpful, or would you change anything if you had to do it again? 

Alec Orudjev: I have passed the SIE, Series 79, 63 and 24 tests, and am currently studying for the Series 7 exam. While some of this sequence is dictated by FINRA rules, etc., a great deal of it is a matter of personal planning. Given the overlapping nature of the substance of these tests, I thought it would be helpful to plan the sequence to benefit from common points/concepts across different tested areas. Basically, I focused on the end objective and reviewed the substance of each test to line them up so as to utilize my time most efficiently and effectively.

Solomon Exam Prep: Out of the exams you passed, which one required the most study time and why? 

Alec Orudjev: Looking back, I think the Series 24 exam commanded most of my study time and attention. I think the volume of what was to be covered and the overall fatigue of having to study and pass three FINRA exams in a 2 ½ month period both made this test preparation more difficult than it would or should have been. It is a very saturated, broad themed exam that requires a lot of focus and attention.

Solomon Exam Prep: How did you approach studying for your exams?  

Alec Orudjev: My approach included: (i) outlining, and (ii) attending Solomon live classes and utilizing exam simulators. With respect to the first element, I approached all my exam preparations the way I did my law school exams – by first preparing thorough outlines of the reading materials. I would start by reading the Solomon preparation materials, actively engaging them and highlighting key points, concepts and examples. Next, I would transfer (literally and figuratively) those notes into an outline of my own, condensing the reading materials down to their bare essence. For example, five chapters of the Series 24 prep book (about 500 pages) were condensed to a 50-page outline (10:1 ratio or so) which, then, I used in reviewing in preparation for the test. Needless to say, one’s outline is as good as one’s effort and the quality of the underlying study materials. On the latter point – the Solomon study materials are the best and the most comprehensive (notes, resources, simulated exam questions, etc.) in their class, in my view. While this outlining approach seems like a lot of work, it is. However, it has worked for me for years and I do strongly recommend this approach to all.

With respect to the second element of my approach, I made every effort to attend live classes and utilize exam simulator questions. I will then turn to Solomon’s online exam question bank and answer those questions, noting what I got right and, more importantly, what and why I got wrong. Also, a significant part of my preparations involved participation in live classes offered by Solomon (I enrolled in the SIE and 63 sessions). You tend to get lot more out of these sessions if you review the materials ahead of time. Overall, they are terrific – the instructor is sharp and very knowledgeable, with a healthy sense of humor to get you through some rather dense and tedious parts of the material. I would highly recommend taking live sessions as they force you to focus on the totality of the study materials in five days, 3-4 hours a day – a daunting, but useful exercise.

Studying for any difficult test is no pleasant experience … take breaks, change the nature of your mental engagement (read something else altogether, watch, take a walk, etc.) to refresh and resume your studying effort.”

Solomon Exam Prep: How did you take the exams – at a testing center or remotely? How was your experience, and do you have any tips to share? 

Alec Orudjev: I took all exams (4 + 1 more to go) at the ProMetric testing center in Bethesda, MD. Given the stress of test-taking, in general, I did not want to add the stress of doing it remotely, etc. The conditions at the center were superb, the staff – very friendly and helpful. I offer no new advice on how to handle this experience other than what is commonly suggested for test takers, e.g., arrive early, read test center instructions carefully and follow them to the letter, give yourself enough time to travel, relax and focus before the test, pace yourself during the test, etc. Keep in mind, however, that FINRA tests are uniquely stringent in the way they are administered, etc. So, to reiterate – read the test taking instructions closely.  

Solomon Exam Prep: Any words of wisdom to help motivate others who are preparing for exams? 

Alec Orudjev: Focus on the reasons why you have undertaken this effort. Studying for any difficult test is no pleasant experience, and very few things can make that less so. However, take breaks, change the nature of your mental engagement (read something else altogether, watch, take a walk, etc.) to refresh and resume your studying effort. There will be many distractions and excuses – acknowledge and indulge to some extent, but do not lose your focus. Most importantly, be honest with yourself about how disciplined you are studying and preparing for your exams.

Solomon Exam Prep: How has passing the SIE, Series 24, Series 63, and Series 79 exams affected your work and your career?

Alec Orudjev: Certainly. Apart from the obvious, studying helped me to be a better legal professional and advisor. Understanding and internalizing a large, complex body of laws, rules and regulations governing the conduct of member firms is a daunting task indeed. These exams set a useful baseline for developing this understanding and building upon it. Take solace in this idea and keep at it.

Visit the Solomon Exam Prep website to explore study materials for 21 different securities licensing exams, including the SIE, Series 7, Series 24Series 63, and Series 79.

Interview: How Andrew Nerys Passed Three Securities Licensing Exams

If you’re preparing to take a securities licensing exam, such as the SIE, Series 7, or Series 63 (or all three!), Solomon’s latest student interview is a must-read. Continue reading

If you are interested in becoming a securities industry professional, there are many paths to follow, most of which require you to pass one or more securities licensing exams. Depending on your work and the type of employer, a common exam track is the SIE, Series 7, and Series 63 exams. The SIE exam covers fundamentals of the securities industry and is a co-requisite to several qualification exams, including the Series 7. The Series 7 qualifies you to buy and sell the widest range of securities. The Series 63 covers the principles of state securities regulation.

Passing all three exams requires considerable effort – but it is possible! Solomon Exam Prep recently interviewed Andrew Nerys, Brokerage Operations Specialist at Cash App Investing, about passing the SIE, Series 7, and Series 63. Read about how Andrew approached studying for these exams, his experience taking exams both remotely and in-person, and how passing these securities licensing exams has benefited his career.

“Passing these exams allowed me to make an exciting transition to a new team and gave me a sense of direction for my professional future.”

Andrew Nerys

Andrew Nerys

Solomon Exam Prep: What motivated you to pursue multiple securities licenses?

Andrew Nerys: To be considered for a permanent role with my organization, it was required for me to pass the three exams I took.

Solomon Exam Prep: Why did you take your exams in the order that you did? Was this order helpful, or would you change anything if you had to do it again? 

Andrew Nerys: I took the SIE, followed by the Series 7 and, lastly, the Series 63. I ultimately didn’t get much say in the order or scheduling of my exams but I did find it helpful all the same. I found that preparing for the SIE (and taking the exam) was a good introduction to the concepts and regulations of the securities industry. The Series 7 built on the concepts that were introduced in the SIE and gave me a good foundation. Taking the Series 63 last was refreshing, in a way, since I found it easier to absorb the material and there was much less to cover in preparation for the exam. I don’t think I’d change anything if I had to do it all again which, hopefully, won’t ever be the case!

Solomon Exam Prep: Out of the exams you passed, which one required the most study time and why? 

Andrew Nerys: The Series 7 definitely required the most study time. There’s a lot of material to cover and some of the concepts were challenging for me to understand. As a result, I found the need to re-read several sections and to take more of the practice tests at the end of each chapter. I also started studying each chapter by watching its corresponding Video Lecture, so it sometimes took several hours to get through one chapter’s worth of material. In total, I estimate that I spent just under 100 hours studying for that one exam.

Solomon Exam Prep: How did you approach studying for your exams?  

Andrew Nerys: For each of the exams, I started by watching the chapter’s Video Lecture and taking very brief notes. Once finished with the video, I’d move on to reading the Study Guide and taking more comprehensive notes to fill in the gaps. I used a couple of wire-bound notebooks and tried to space everything out so I’d have an easy time finding any info I might be hunting for when I went back to review my notes. I also tried to stick to the study schedules provided by Solomon as much as I could, but didn’t beat myself up if I fell a day behind. I found that I’d usually make up for it soon enough. I only made flashcards for concepts that I really struggled with, or specific equations that required memorization. Otherwise, I leaned heavily on practice tests – both for each chapter and the ones provided for exam review. The pie charts and Pass Probability™ metrics were very useful in helping me identify areas where I needed more study.

It’s always worth remembering that passing these exams is achievable, especially on those days where it feels impossible.”

Solomon Exam Prep: How did you take the exams – at a testing center or remotely? How was your experience, and do you have any tips to share? 

Andrew Nerys: I had a blended experience with taking the actual exams: I took the SIE and 63 at a testing center and took the Series 7 remotely. I didn’t really have a preference for one over the other, but I’d strongly encourage anyone taking it remotely to make the space as distraction-free and free of clutter as possible. Not only did I find that helpful in keeping me focused, but it also made me feel more confident that my exam result wouldn’t be nullified for failing to meet the remote testing requirements. The other thing to consider when deciding whether or not to take an exam remotely is that you’re not allowed to have any paper, pen, or calculator on your desk when testing remotely. That means all of the notes and calculations have to be done using your computer, which might be a disadvantage when compared to taking the exam at a testing center.  

Solomon Exam Prep: Any words of wisdom to help motivate others who are preparing for exams? 

Andrew Nerys: Establish a study routine early in the process that’s easy to stick to and that keeps you regularly engaged in the material. If I took more than one day off between studying, I found it more difficult to get back into study mode. It’s always worth remembering that passing these exams is achievable, especially on those days where it feels impossible. I also use Reddit and subscribed to a couple of Subreddits that focus on the Series 7 and other related exams. I found it really helpful to have a community that was going through the experience (or had recently been through it) to help keep me motivated and to encourage my success.

Solomon Exam Prep: How has passing the SIE, Series 7, and Series 63 exams affected your work and your career?

Andrew Nerys: Passing these exams allowed me to make an exciting transition to a new team and gave me a sense of direction for my professional future. In a more indirect way, it also helped reinforce the feeling that I’m capable of achieving my goals when I have the right resources and mindset.

Visit the Solomon Exam Prep website to explore study materials for 21 different securities licensing exams, including the SIE, Series 7, and Series 63.

Interview: How Alexandria Coyne Passed Four Securities Licensing Exams

If you’re considering taking the SIE, Series 6, Series 63, Series 7, or another securities licensing exam, read these valuable insights on how to study for and pass your exams. Continue reading

It’s not uncommon for those in the securities and investment industries to need more than one securities license. But the determination involved in passing multiple securities licensing exams (especially in a short time period) is substantial. Case in point: Alexandria Coyne, Financial Advisor at Northwestern Mutual, who passed her fourth exam with Solomon Exam Prep earlier this year. She now has the SIE, Series 6, Series 7, and Series 63 under her belt. Alex was kind enough to answer Solomon’s questions about her study approach and how she achieved success four times.

“I really wanted to learn the material through and through, so I was never preparing for an exam; I was preparing for a career.”

Alex Coyne

Solomon Exam Prep: Why did you take your exams in the order that you did? Was this order helpful, or would you change anything if you had to do it again? 

Alex Coyne: I took the SIE, the 6, the 63 and then the 7. If I could do it all over, I’d do the same thing! The SIE was a great entry level exam for the 6. To me, there was only a little bit of differentiating content between the two exams. I will always recommend splitting up the 6 and the 7. I think the 6 was just high-level enough to get an understanding of the content. The 7, on the other hand, got extremely detailed. I truly believe that if I went straight into the 7 from the SIE, I wouldn’t have been successful on my first attempt.

Solomon Exam Prep: Out of the exams you passed, which one required the most study time and why? 

Alex Coyne: Most definitely the Series 7. I just think that there were a lot of details to remember and a lot of information to digest.

Solomon Exam Prep: How did you approach studying for your exams?  

Alex Coyne: I recommend everyone to Solomon. I think that Solomon did an amazing job with the study material. What I have found to be most successful for me:

The first thing I did was set an exam date. That was just knowing my ability to procrastinate, so I had to put a timeline on this thing before it even started!

Order the book. Read the entire book in full, highlighting important content and underlining even more important content. I found that 20 pages per day was my reading goal.

Once the book was read in full, I WROTE out all the highlighted and underlined information onto a notebook. Yes, I outlined the entire book. I found that approximately 10 pages of outlining per day was my capacity (approx. 1-2 hours). It took an entire 2-subject notebook for an entire outline. (Still no quizzes at this point.)

While I was reading and outlining, I played the online Video Lectures through my AUX cord in my car wherever I went. From start to finish. 

After outlining the entire book, I went to my NOTEBOOK (outlined) and I went through the content in detail. After I studied Chapter 1, I took Ch. 1 practice quizzes until passing consistently. Then Chapter 2, 3, 4 and so on….

After all of the Chapter quizzes were complete, I did the practice tests. I probably did 15-20 total practice exams. Some timed, some with immediate feedback. I made sure to read the feedback and understand what questions I was getting wrong and use my book and notebook to go back to content and work through the wrong answers. 

On the 7, the Options Video Lecture was a total game changer for me. I watched it twice and memorized every table on there. That single-handedly won me 15-20 questions on the Series 7 exam.

“…there are still things from the study material that I use in client meetings today, 8 months since the Series 7 exam.”

Solomon Exam Prep: How did you take the exams – at a testing center or remotely? How was your experience, and do you have any tips to share? 

Alex Coyne: I took all of my tests in a testing center. My advice: Practice your “dump sheet.” AKA: Once you START the exam, dump out all you can remember on scratch paper. I actually practiced my dump sheet, especially for the Series 7. The week leading up the 7, randomly throughout the day, I would stop what I was doing, find paper, and practice my dump sheet. By the time I took my Series 7, I pretty well had my dump sheet memorized. That was very helpful for me.  

Solomon Exam Prep: Any words of wisdom to help motivate others who are preparing for exams? 

Alex Coyne: Passing on the first try is very possible, but you will only get out of the material the level of commitment you decide to put into it. I really wanted to learn the material through and through, so I was never preparing for an exam; I was preparing for a career. I saw this knowledge as transformational for my financial practice. I took it seriously and there are still things from the study material that I use in client meetings today, 8 months since the Series 7 exam. My advice is to have that mentality when it comes to learning; don’t just cram to pass an exam. Our clients deserve better.

Visit the Solomon Exam Prep website to explore study materials for 21 different securities licensing exams, including the SIE, Series 6, Series 7, and Series 63.

Interview: How Fernando Russo passed four securities licensing exams

Preparing for the SIE, Series 63, Series 79, Series 82, or another securities licensing exam? Read about one Solomon Exam Prep student’s path to success. Continue reading

Passing a securities licensing exam is no small feat, but four? Solomon Exam Prep recently reached out to Fernando Russo, Vice President of Investment Banking at Young America Capital, to learn more about his success in passing the SIE, Series 82, Series 63, and Series 79 exams (in that order). Whether you need to pass one or multiple exams to reach your career goals, you’ll want to hear about Fernando’s process and helpful tips.

“The content is not rocket science and the math is very simple. It just takes time, dedication and good study materials.”

Fernando Russo

Solomon Exam Prep: Why did you take your exams in the order that you did? Was this order helpful, or would you change anything if you had to do it again? 

Fernando Russo: After the SIE I decided to take the 82 first because I wanted to be licensed as soon as possible. The materials for the 82 seemed simple and I felt confident that I could pass. The 63 came right after because it allowed me to offer securities in my state and be fully registered as an investment banker. The 63 is actually very tricky because it is prepared by NASAA and not by FINRA. Some of the materials are similar but the exam is very different from FINRA exams. 

I took the 79 last. 

I could’ve gone straight for the 79 but I think that taking the 82 was a good way to get started. It helps build up confidence and knowledge.  

The 82, for some, might feel like a practice exam for the 79.

Solomon Exam Prep: Out of the exams you passed, which one required the most study time and why? 

Fernando Russo: The 63 is trickier than most people think it is. The study materials are not as extensive as the 79 but the content is very specific and one needs to remember very detailed pieces of information (dates, percentages, etc.). I was studying a lot (2-3 hours a day during the week and 4-6 hours during weekends) but not getting the scores that I wanted on my practice exams, so I had to go back to the books and memorize 85% of the materials.  

I spent 25% more time studying for the 63 than for the 79.

“The audiobooks are great. I would listen to the chapters while driving, while working out and while doing many other activities.”

Solomon Exam Prep: How did you approach studying for your exams?  

Fernando Russo: I studied each chapter and then took a practice exam for that specific content or section. If I didn’t do well, I would go back to the materials and do it all over again until I passed. I did that over and over and over until I passed. I also found a lot of help in the notes that are found in the Resources Folder. These are great to find definitions, tables and simple explanations for seemingly complicated terms. The audiobooks are great. I would listen to the chapters while driving, while working out and while doing many other activities.

Solomon Exam Prep: How did you take the exams – at a testing center or remotely? How was your experience, and do you have any tips to share? 

Fernando Russo: I took all my exams at the same Prometric test center in Chicago, and I did so on Monday mornings. I took Friday off from work and studied all day on Friday and on Saturday. On Sunday, the day before each exam, I did not study at all. Instead of studying I spent the whole day doing a fun activity with my family.  

I think that is very necessary to allow the mind to rest before the exam. For each test I studied 30-45 days nonstop and one day of peace before the exam felt necessary. It worked. Each time I woke up the day of the test I felt relaxed and ready.  

Solomon Exam Prep: Any words of wisdom to help motivate others who are preparing for exams? 

Fernando Russo: Take the practice exams. Take them 1,000 times and then some more. I also recommend studying every day, even 10-15 minutes if the student is swamped with other activities. It keeps the mind engaged and the program moving forward. The content is not rocket science and the math is very simple. It just takes time, dedication and good study materials.

Visit the Solomon Exam Prep website to explore study materials for 21 different securities licensing exams, including the SIE, Series 63, Series 79, and Series 82.